In crypto news today (May 29), the market has seemingly stabilized overnight, with the Bitcoin price climbing a modest +0.4% in the past 24 hours, with it sitting at around $73,500. However, ETH USD remains in a precarious position: while it is up +0.8% on the day, it trades at $2,010, barely holding above the key $2,000 support zone.
The daily price action for BTC and ETH comes as both assets saw -$233M and -$122M in ETF outflows yesterday, and while those flows are smaller than yesterday’s, they continue a worrying trend of institutions offloading crypto in huge amounts.
The total crypto market cap has also enjoyed a period of respite, up +0.8% overnight, and is now back above $2.56 trillion as it attempts to reach $2.8 trillion before the monthly close.
Daily trading volume is sitting at $82.7Bn, up from $75Bn yesterday, indicating a slight renewed interest in the market as we head into the weekend. However, a reported ceasefire extension between the US and Iran could spark a major move as we head into June.
Crypto News Today: US-Iran Reach Ceasefire Agreement and Bitcoin Barely Reacts – Delayed Move Coming?
It has been reported that US and Iranian negotiators reached a tentative agreement on Thursday (May 28) to extend the ceasefire and begin a new round of talks on Iran’s nuclear program, with Bitcoin barely flinching at the news.
Trump has been briefed on the terms but has not approved them. The terms include Iran opening the Strait of Hormuz, and the US pulling back its naval blockade in stages over 60 days until the strait returns to pre-war status.
Vice President Vance said “a couple of language points” are still under discussion, while Secretary of the Treasury Scott Bessent said at yesterday’s White House briefing: “Everything depends on what the president wants to do. President Trump is not going to make a bad deal for the American people.”
As of right now, the crypto market has hardly reacted to the news of a potential ceasefire; however, the lack of fresh downside could point toward a period of consolidation before a rally into the weekend and monthly close.
Iran And US Move Toward Ceasefire Extension
The United States and Iran have reportedly reached a preliminary agreement to extend their ceasefire for another 60 days, per Reuters.
The proposed deal would also reopen shipping access through the Strait of Hormuz while nuclear… pic.twitter.com/KPTKLBAfXa
— BSCN (@BSCNews) May 29, 2026
On-Chain Sleuths Spot Strategy Moving Bitcoin to Coinbase Prime – Is Saylor About to Dump BTC?
In other crypto news today, on-chain analytics firm @lookonchain has spotted a Strategy wallet moving 411.48 BTC, worth around $30.3M, onto Coinbase Prime. While there has been no statement from Saylor or Strategy regarding this deposit, many speculate that the Bitcoin Treasury firm is preparing to dump BTC ahead of the monthly close.
This feeling is backed by prediction markets, with Polymarket odds that Strategy sells BTC by December 31, 2026, hitting 91%, and 74% that it makes a sale by June 30, 2026.
If Saylor does indeed begin selling Bitcoin, this could lead to a serious unwinding across the market, with the regular Strategy BTC purchases often seen as the only thing holding crypto back from a more brutal crash.
Biggest Losers and Gainers as Crypto Shows Signs of Stabilization
With Bitcoin holding steady above $73,000 (for the moment), it has given a few select tokens breathing room for big moves, even as there are still many red candles across the market.
While the likes of Sealcoin (QAIT), Xphere (XP), and Constellation (DAG) are all down anywhere from -19% to -92%, and feeling the full effect of the recent price action, a few assets are surging today.
Allora (ALLO) is the standout, as the AI crypto token has mooned more than +200% in the past 24 hours, with Binance accounting for nearly $200M of its $477M daily trading volume. Octra (OCT) and MetaDAO (META) are a few other strong performers, up +28% and +32%, respectively.
If the Iran-US ceasefire is officially announced, it may be worth watching these strong performers as they could lead the way with any bullish rally as we head into June.
There are no live updates available yet. Please check back soon!
The post Crypto News Today (May 29): BTC Holds Above $73K as Monthly Close Volatility Approaches appeared first on 99Bitcoins.
No Comment! Be the first one.